Only three rolling quarters in 2023 saw the median pay settlement dip below 6%, its analysis showed. All other periods remained consistent at 6%, a level not sustained for more than 30 years.
The jump from a median of 4% in 2022 reflected the high levels of inflation in the UK this year, explained Sheila Attwood, senior content manager, data and HR insights.
This was “a commitment from employers to help their employees with [the high cost of living] as much as possible”, she said.
